The Europe Stevia Market would witness market growth of 7.2% CAGR during the forecast period (2024-2031). In the year 2021, the Europe market's volume surged to 3,030.11 tonnes, showcasing a growth of 11.0% (2020-2023).
The stevia market, particularly in powdered form, has witnessed significant growth owing to its natural sweetness and low-calorie properties. Stevia powder is extensively used as a sugar substitute in various food and beverage products, including desserts, beverages, and snacks, due to its ability to impart sweetness without adding calories. Therefore, the Germany market would consume 656.87 tonnes of Stevia powder by 2031.
The Germany market dominated the Europe Stevia Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $98 million by 2031. The UK market is registering a CAGR of 6.6% during (2024 - 2031). Additionally, The France market would showcase a CAGR of 8% during (2024 - 2031).
Stevia extracts have been investigated for their potential use as natural pesticides and insect repellents in agriculture. Certain compounds in stevia leaves exhibit insecticidal properties and may offer eco-friendly alternatives to synthetic pesticides. Moreover, stevia extracts are explored as feed additives for livestock to enhance palatability and improve feed intake. They may contribute to developing natural and sustainable livestock nutrition and health solutions.
Moreover, enhancing stevia’s taste profile to mimic sugar’s sweetness and mouthfeel remains a primary focus of innovation. Advances in stevia extraction methods and taste modulation techniques aim to reduce lingering bitterness or aftertaste associated with stevia, improving its overall acceptability among consumers. Taste modulation techniques emphasize masking or minimizing the perceived bitterness or aftertaste associated with stevia. Formulators employ various strategies to achieve this, including blending stevia with other natural sweeteners, flavor enhancers, or masking agents that complement its taste profile.
Food and beverage manufacturers in the UK are incorporating stevia into various products, including soft drinks, flavored waters, dairy alternatives, snacks, and baked goods. The availability of stevia-sweetened options across different product categories has increased consumer choice and contributed to the expansion of stevia demand in the UK. As per the data from the Government of the United Kingdom, regarding gross value added (GVA), beverages was the largest manufacturing category with a value of £6.5 billion in 2021. It contributed 21.4% to the total food and drink manufacturing GVA. The other food products category was the second largest, valued at £6.3 billion in the same year, contributing 20.6% to the total food and drink manufacturing GVA. Thus, Europe’s rising food & beverage and pharmaceutical sectors will increase demand in the regional market.
Free Valuable Insights: The Global Stevia Market will Hit USD 1.5 Billion by 2031, at a CAGR of 7.8%
Based on Distribution Channel, the market is segmented into Offline, and Online. Based on Form, the market is segmented into Powder, Liquid, and Leaf. Based on End User, the market is segmented into Food & Beverages, Retail, Pharmaceuticals, and Others. Based on Type, the market is segmented into Reb A, Reb M, and Reb D. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Distribution Channel (Volume, Tonnes, USD Billion, 2020-2031)
By Form (Volume, Tonnes, USD Billion, 2020-2031)
By End User (Volume, Tonnes, USD Billion, 2020-2031)
By Type (Volume, Tonnes, USD Billion, 2020-2031)
By Country (Volume, Tonnes, USD Billion, 2020-2031)
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